NEW YORK CITY—SJP Properties has landed a new tenant at 11 Times Square.
Answers Corp., a technology firm, has signed an agreement to occupy the entire 11th floor—spanning approximately 29,000 square feet—at the 1.1 million-square-foot office and retail tower in a consolidation of several offices around town. The building, which is located at the intersection of Eighth Avenue and 42nd Street, is owned by a joint venture of SJP Properties and investors advised by Prudential Real Estate Investors.
Cassidy Turley's Nicola Heryet, senior managing director and principal, and Stephen Bellwood, managing director, represented Answers in its lease, while SJP was represented by JLL's vice chairmen Mitch Konsker and Paul Glickman.
“Answers needed a world-class, tech-forward space to support our high-performing New York operations and workforce, which has quadrupled since last year and continues to grow,” said David Karandish, CEO and Chairman of Answers Corporation. “The central location of 11 Times Square gives us tremendous proximity to key customers of our platform technologies--some of the world's largest brands and advertising agencies, in industries such as retail, financial services and healthcare. It also strengthens our efforts to recruit Silicon Alley talent who can help us deliver leading-edge digital media experiences and marketing solutions to consumers and clients alike.”
Says Steven J. Pozycki, CEO of SJP Properties, “This latest lease with Answers demonstrates the value that companies see in occupying high-grade, technologically advanced commercial space that provides direct access to unrivaled services, dining, entertainment and cultural venues, as well as the world's best transportation network. We are extremely pleased to welcome Answers to 11 Times Square as the company positions itself strongly for additional future growth.”
Answers is the latest technology company to make a move to 11 Times Square, which is also home to Microsoft and e-Marketer. Situated immediately north of The New York Times building, 11 Times Square helps to define the western gateway to the 42nd Street/Times Square business corridor. Since the mid-'90s, the neighborhood has been the beneficiary of a significant migration in the tenant population in Midtown toward Times Square.
11 Times Square also is home to international law firm Proskauer, which occupies approximately 400,000 square feet at the tower. Last year, SJP announced that it had leased the entirety of the building's retail space to tenants including Bank of America, Global Food International, Senor Frog's and Off the Wall Frozen Yogurt.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
